how does arbitration help with settling corporate litigation Dispute?

700 votes

Arbitration is a process by which parties can agree to have their disputes resolved outside the court. The arbitrator can decide all kinds of disputes but the main crux is that both the parties should be agreeable for arbitration. The proceedings do not strictly follow the code of civil procedure or evidence act and the parties are free to decide upon an agreed procedure for conduct of proceedings. The Arbitrator is usually a retired judge and a lawyer which has to be appointed with mutual consent or depending upon the terms of the arbitration agreement. Arbitration process is faster than normal court procedure so corporates opt for such a procedure to resolve their disputes.

Advocate Diggaj Pathak LawRato

805 votes

Sir, in the case of a corporate dispute, subject to the agreement of the parties, reference may be made to arbitration which is essentially an out of court adjudicatory process but which follows, to a large extent, the procedural principals of law followed in the regular courts. The process is quicker and less formal with limited scope for appeals and therefore often preferred over regular courts by business houses for whom time is money

Advocate Rajat Joseph LawRato

597 votes

It's very helping in settling all the disputes in a fast manner. Here both the parties can settel their dispute by sitting across the table in presence of a person who has no interest in the matter, further if dispute is not resolved then the trial process is short and easy.

Advocate Ankur Aggarwal LawRato